London-based fintech Sokin has closed a EUR 46m Series B funding round, crystallising a USD 300m valuation and underlining how aggressively capital is chasing B2B cross‑border payments infrastructure.
The round was led by US growth investor Prysm Capital, with participation from Watershed Ventures, Morgan Stanley Expansion Capital and Aurum Partners, alongside PayPal alumni Gary Marino and Mark Britto. The raise — disclosed at USD 50m (EUR 42.9m) — firmly anchors Sokin in the mid‑market funding bracket and adds another scaled contender to Europe’s export‑driven payments stack.
A growth profile investors will pay for
Sokin has doubled revenue year-on-year and grown top line 8x since 2022, a trajectory that puts it at the high end of growth benchmarks for later‑stage fintech. The resulting USD 300m valuation implies investors are underwriting continued rapid expansion rather than a stabilisation phase.
The company’s proposition is squarely B2B: cross‑border payments, treasury management and multi‑currency accounts for businesses trading internationally. That focus aligns with the ongoing digitalisation of trade finance and the shift away from bank‑dominated correspondent networks to API‑driven, platform‑based models.
With COVID‑era digitisation now embedded in corporate workflows, the winners in this segment are those that can turn fragmented, bank‑heavy processes into embedded, software‑like experiences. Sokin’s pitch — an integrated financial infrastructure layer rather than a single‑product remittance play — is precisely what growth investors are backing across the mid‑market.
Signal of a broader capital rotation
The investor line‑up illustrates a clear capital rotation within fintech: from consumer‑facing neobanks and FX apps to B2B infrastructure that can scale with global trade volumes.
- Prysm Capital and Morgan Stanley Expansion Capital bring classic growth equity discipline, typically targeting companies with proven product‑market fit and line of sight to profitability.
- Watershed Ventures and Aurum Partners add specialist and entrepreneurial capital familiar with scaling software‑enabled financial platforms.
- The participation of Gary Marino (former Chief Commercial Officer) and Mark Britto (former Chief Product Officer) of PayPal inserts deep operating experience from one of the defining players in digital payments.
Their involvement is not just branding. It reflects a conviction that the next wave of value in payments will be captured by infrastructure players that can replicate, in B2B and treasury, the user experience improvements PayPal drove in consumer and SME payments.
Expansion path tracks global trade flows
Sokin plans to deploy the new capital into product build‑out and expansion across Asia, the Middle East and South America — three regions where cross‑border trade is growing faster than in Europe and North America, and where payment rails remain fragmented.
This expansion map is consistent with wider mid‑market fintech trends:
- Asia offers scale and complex FX corridors, favouring platforms that can manage multi‑currency treasury efficiently.
- The Middle East is investing heavily in financial infrastructure and digital trade facilitation, opening doors for specialised B2B payment providers.
- South America remains under‑served by global transaction banks, creating a gap for agile, tech‑first platforms.
Mid‑market investors increasingly prefer such corridor‑based strategies: they are capital‑efficient, can be sequenced market by market, and generate defensible network effects once local partners and regulatory approvals are in place.
Risks: execution, regulation and crowding
The main risk is execution at speed across multiple, tightly regulated jurisdictions. Building compliant infrastructure in Asia, the Middle East and South America simultaneously is resource‑intensive. Regulatory change, particularly around anti‑money laundering and data localisation, can delay roll‑outs and increase cost to serve.
Competition is also intensifying. Global banks are modernising their transaction services, while specialist fintechs and regional champions are targeting the same corridors. Sokin must convert its growth profile into durable client relationships and differentiated product depth, not just price or speed.
However, the calibre of investors and operators around the cap table, coupled with the company’s demonstrated revenue ramp, materially mitigates these risks. This is not capital chasing an idea; it is expansion capital backing an already scaled revenue engine.
What this means for Europe’s mid‑market fintech
For Europe’s mid‑market, Sokin’s Series B is a clear market signal: B2B cross‑border payments and treasury infrastructure remain one of the most bankable theses in fintech. Investors are willing to pay up for platforms that show:
- sustained triple‑digit revenue growth,
- a clear focus on business customers and trade flows, and
- a credible plan to build multi‑regional infrastructure.
As funding for consumer‑oriented fintech remains selective, capital is flowing toward businesses that sit deeper in the financial plumbing of global commerce. Sokin’s EUR 46m round is a textbook example — and a marker for where mid‑market fintech valuations are being set in 2025.